A Study on Promotion and Reward Policy of India - MBA HR

A Study on Promotion and Reward Policy of India - MBA HR


Introduction

Every company must strike a balance between internal sources of people advancement and external sources of recruiting. As a result, promotion must be based on a policy that is consistent, fair, and transparent. The National Institute of Personnel Management (NIPM) has proposed a promotion strategy along these lines: Creating an organisational chart to make the promotion ladder visible to all employees. Such a chart is simple to create when there is a job analysis and a pay policy in place. Making the promotion procedure obvious to all parties involved, including those who may start and manage promotion cases. Though department heads may start promotions, senior management must provide final permission after the personnel department has been requested to examine if any repercussions are likely to arise as a consequence of the planned promotion.

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Pay raises, promotions, and incentives are no longer sufficient. Employers must pay attention to what their workers desire. A reward or incentive is anything that draws a worker's attention and motivates him to work. According to Bureckm and Smith, a reward system is a strategy or programme designed to encourage individual or group performance. An incentive programme is often based on monetary incentives, but may also incorporate non-monetary incentives or awards.

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Conclusion

The responses obtained in the two extremes were very low, i.e. every question was answered by the employees avoiding the two extremes of strongly agree & strongly disagree. This can be justified by the fact that the employees were hesitant and acted as if confidential information was being extracted from them, as explained above in the limitations, or that it indicates that the majority of the responses obtained were agree, indicating that the organisation had been fairly successful in keeping the reward system schemes balanced and satisfactory. About 30 to 40 percent of the employees responded agree to questions like rewards are given as per criteria that indicates that etc., indicating that the organisation had been fairly successful in keeping the reward system schemes balanced and satisfactory.

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